07:43 GMT +321 October 2019
Listen Live
    A man stands next to an advertising placard showing British pounds, US dollars and Ukrainian hryvnia banknotes in the Ukrainian capital Kiev

    Financial Freefall: Fitch Predicts Ukrainian Economy to Drop by Another 9%

    Get short URL
    0 142

    The ratings organization predicts that Ukrainian economic drop will be accompanied by the devaluation of Ukraine’s currency and a major inflation.

    Fitch Ratings Inc. predicts a drop in the Ukrainian economy by 9% at the end of 2015. This prediction corresponds to the forecasts made by its main creditor countries, the International Monetary Fund and the European Bank for Reconstruction and Development.

    As noted by the ratings organization, the economic drop will be accompanied by the devaluation of Ukraine’s currency, the hryvnia, down by 97% compared to 2014, and major inflation.

    "The economic recession will take place against the backdrop of unresolved conflict in the east of the country, which will also remain a significant factor of the economic problems," read the statement released by the agency.


    Ukraine Pays $75 Million to Russia Against $3-Billion Eurobond
    Bad Blood: IMF Disgraces Greece, Reinstates Support for Ukraine
    Ukraine’s Plan of Joining EU is 'Not Efficient' – Estonian President
    currency devaluation, recession, economic crisis, creditors, hryvnia, Fitch Ratings, European Bank for Reconstruction and Development in Europe (EBRD), International Monetary Fund, Ukraine
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik